Tax-favored gift exemptions that give back — in any administration
November 17, 2020 by Ed Slott
With a president-elect Joe Biden heading to the White House, estate and gift tax exemptions could be on the chopping block next year. Even if nothing happens, these exemptions are slated to be halved after 2025.
The upshot: Wealthy clients wishing to make big gifts can save taxes by using the generous exemptions now.